Non-Performing Loan Sale – Bed-Stuy/Ocean Hill

190 Rockaway Avenue


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Original Loan Amount $1M
Loan Term 20 years
Current Interest Rate 3.75
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Loan/Note Sale 190 Rockaway Avenue, Bedford-Stuyvesant
Tim Thompson
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The non-performing mortgage loan is secured by 190 Rockaway Avenue. 190 Rockaway Avenue is an 5,600 SF 8-unit rent stabilized, multifamily property with four stories located in Ocean Hill, Brooklyn. The property is located within 1 1⁄2 blocks from the Rockaway Avenue C train station and in close proximity to Broadway Junction which provides access to the A, C, J, Z and L trains as well as the LIRR. The property owner has provided a rent roll of approximately $113,00/year. The units are rent stabilized with the average rent at approximately $1,178/month. The building is in the protected 2B tax class and the taxes are $9,000/year.


Access to Broadway Junction
Proximity to A and C trains
Just off Atlantic Avenue

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